The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1887-05-20
CATTLE KINGS FAIL
Assignment Of tile Well-Known Firm of
Swan Bros.-The Liabilities Very Large
One Estimate Placing Thefh 1t Above
Million D0lIars-AssigRees GonffdeHt Of
Satisfying Creditors:

Assignment Of THE Fell-Known Firm of
Swan Bros.-The fiahiEities Very Large
One Estimate Placing Thefh st Above
Million D0llars-Assighees SonffdeEst Of
Satisfying Creditors.
EHEYESNE, wy. r, May 7.-Gonsider-
able excitement was caused III Business
and financial circles by the announcement
of the assignment OF Swan Bros, well
known both in Europe and America as mill-
ionaire cattle dealers. The assignment was
made Saturday to A Fl. Reel and f. W.
Latranz, but was not made public until
yesterday An official statement Of
liabilities could not be had, but will
be made public in a few days. Good
authority places the liabilities at $780, 900.
They may reach some higher, and might
possibly fall under that figure. The assets
can not be estimated: The assighees say
they are confident every dollar of the in-
debtedness can be paid OF provided they
are given time, but if forced to dispose of
the property in their hands the estate viii
not realize over fifty per cent of the in
debtedness. The assets consist Of stocks,
bonds and real estate.
The firm are interested in Omaha and
Iowa realty and in several cattle compa-
hies. The latter organizations are the
Ogallala Land & Cattle Company the
Swan Land 6 Cattle Company, She Wyo.
ming Hereford Association, Hillsdale Land
q Cattle Company, and the Cheyenne
Land Il Live Stock Company, and al
though they are stockholders in these
companies the failure will have No
effect upon them. This failure will in nc
way effect the cattle interests of the
Territory, inasmuch as the firm OF Swan
Bros. are not cattle owners. They were
heavy operators in stock interests and
might properly be called cattle brokers.
Through them have been made some very
heavy sales by the land and cattle com.
panles to foreign corporations.
The direct cause Of the failure was the
action of the German Savings Bank OF
Davenport, Ia, which issued an attach
ment for $25 900, the firm having gone SEA
curity for an Iowa friend in that sum.
They were already heavily involved. but
not more than they considered them
selves capable of liquidating, and
A. III. Swan was in London nego'
tating with some English and Scotch
capitalists for the purchase of the
Consolidated Land & Cattle Company he
had lately formed. Receipt of news re-
garding the attachment wrecked his
B
to find creditors pouring in on him. He
made "a desperate struggle to regain his
feet and paid out in a few days over SS5,
go, but the demands became so strong the
firm was forced to succumb
The prime pal creditors are Chicago and
New York banks and the First National
| Bank of Cheyenne, the latter. however, to
| a comparatively limited amount There
I Qpn q leo M ha1s nf al WhOS6
claims will probably be paid in full.
OMAHA, Neb., May IA Cheyenne dis
/ patch places the liabilities of Swan Bros.
at 81, 100000 and the nominal assets at
about the same sum. The cause of the
failure is attributed to the shrinkage in
values during the last few years.
1.-THE firm of Swan Bros. was formed in 1879
| by A. H. and Thomas Swan, of Iowa. The firm
| prospered. and in the flush days of the cattle
business added to its size by the purchase of
/ q large number of neighboring ranches
and herds, until in 1888 Alexander Swan
was universally known as the cattle
| king of Wyoming. The firm had branches
under the names of the Cheyenne Land
| & Cattle Company, Swan Bros. & Frank Ogal-
lala Land & Cattle Company, Swan. Cheshire &
Co., and the Swan Land g. Cattle Company.
The latter Company was composed of Scotch
and English capitalists and A. II. Swan was
manager at a salary of $4,000 year.
The corporation was the most extensive cattle
company II Wyoming. For the last year
! or two they have been stockholders only. Be-
sides operating in cattle they invested heavily
in lands and were interested in mining to a GER
tain extent. A. H. Swan is vice-president OF
! the First National Bank of Cheyenne, and is an
energetic, vigorous and plucky man of business,
who is held in the highest esteem by the people
of Wyoming.1